QNB Suisse, a subsidiary of Qatar National Bank, has selected Societe Generale Securities Services (SGSS) in Ireland to help establish and support QNB Global Funds ICAV, its European UCITS-compliant umbrella fund.
The ICAV, an Irish collective asset-management vehicle, currently offers two, fully segregated sub-funds – QNB ZyFin India Consumption UCITS ETF and QNB MENA Fund.
Europe’s first physically replicated Indian consumption ETF, QNB ZyFin India Consumption UCITS ETF tracks the performance of the ZyFin India Consumption Index which comprises equities of companies that are likely to benefit, either directly or indirectly, from the expansion of consumption led demand in India. Developed by ZyFin Research Private Limited, the index is a thematic index aligned with Indian consumer spending trends and comprises 30 investible Indian listed stocks selected from consumer driven sectors.
The QNB MENA Fund aims to provide long term capital appreciation through investments in equity securities on recognised markets located in the Middle East and North of Africa (MENA). The sub-fund seeks to outperform the benchmark index, which tracks the performance of large and mid-cap stocks from 11 pan Arab equity markets, by investing primarily in equity securities listed on recognised markets in MENA, including Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Tunisia and the United Arab Emirates.
As UCITS-compliant sub-funds, both QNB ZyFin India Consumption UCITS ETF and QNB MENA Fund, can be sold within the European Union and other select markets on a passport basis. SGSS in Ireland will provide a complete fund services offering to support the distribution of the sub-funds to investors throughout Europe. Services include fund administration, transfer agency and depositary and custody services.
